FUZEX – Review

funkyies (0)(1)in #blockchain • 6 years ago

Hello to all and welcome to my ICO review . For those of you who don't know me yet, let me introduce myself. My name is Funke and I'm an experienced writer who enjoys what he does very much. I'm here to give you all the information you might need or want about The Cryptocurrency Payments At Your Fingertips. I plan to make them “easy read, to the point” because what's important to me is that we all comprehend and absorb the information and actually want to be here learning together about something new.

Today, let us all learn and experience together all about FUZEX. If you don't know anything about them, don't run away, that's why I'm here, to change that within the next few minutes. Before I begin, I just want to quickly mention that I will be including LINKS so that YOU can do your own research or whatever you feel you need. I feel it's best to have all of the information in one place, in an organised manner, rather than dotted about the page making what you want hard to find or confusing. All these links will be put at the BOTTOM of this page to keep things easy.

FuzeX is a project with the aim to revolutionize the way we pay. They are creating an e-card, where one can store all cards (credit, debit, reward cards) in only one card. They will be also integrating cryptocurrency which can allow you to pay in real stores by using the FuzeX card. They are currently working on a prototype and some videos(Check above) showing how the FuzeX card might look like as well as how it will work. Please watch the video above to get a better image of this project.

There is a whole ecosystem built by the FuzeX Card, the FuzeX Wallet and the Fuzex Exchange. In the personal ecosystem you can associate to the cardnup to 15 cryptocurrency’s wallets, up to 10 debit/credit cards, and 5 discount/bonus cards. The cryptocurrency, FIAT exchange is done in real time with help from the FuzeX Exchange, so you can use your card anywhere anytime you want. Make spending all forms of currency (fiat, rewards, cryptocurrency), user and merchant friendly. You open your wallet and there they are: BTC, ETH, DASH, NEO, SALT etc.

The real-world usability problems associated with cryptocurrencies have encouraged a number of companies to tackle this challenge. This particular challenge is a worthy cause as real-world usability is a major hurdle in establishing cryptocurrency’s legitimacy as a reliable and widely adoptable form of payment. Many of the contenders in this space have approached it with prepaid card solutions. While a logical approach, use cases can be limited to just a couple cryptocurrencies and acceptance by a limited number of merchants, thus, hampering adoption.

I am going to get straight to the point of who they are since this is such an important factor, as I like to put it, “The Brains behind FUZEX ”. If the team behind the product or service in question haven't the resources or knowledge, then we know the product or service delivered will possibly not have the quality it should have. We need to know two very important things when we look at a new starting up company:
Who are the people/team behind this?

What experience and knowledge do they possess?

Okay, so, because I've already done all the research needed beforehand and thoroughly FUZEX I can very happily confirm that this company has a fabulous team onboard. Here they are:

WHAT IS THE DIFFERENCE BETWEEN FUZEX AND OTHER CRYPTOCURRENCY PAYMENT PROJECT?

Cryptocurrency payment can be classified under three heads.

Firstly, there is PundiX, which would require exclusive POS terminal. The merchants need to make separate contract and also need to purchase or install the POS terminal provided by PundiX. This will cause considerable amount of time and cost for setting up the infrastructure, which will be a great barrier for limiting the card commercialization in both online and offline. As FuzeX project aims to maximize the usability of crypto in real world, we will be using existing payment network used for fiat payment. This will enable the unlimited usage of the card, without optimization of the payment infrastructure.

Secondly, there is type of prepaid card, which would recharge the card with exchanged amount in form of fiat such as BitPay. The crypto to fiat exchange would be made in advance, based on the exchange rate at the time of recharging the card. It is hard to consider this as a cryptocurrency payment card as the payment will be made in fiat already exchanged in the past. FuzeX project will make a real cryptocurrency payment possible by exchanging the crypto balance into fiat at the time of payment.

Lastly, there are projects like Monaco, TenX, or etc., which is real-time cryptocurrency payment card most similar to FuzeX card. The biggest difference would be: FuzeX card is a Smart E-Card, while others are normal plastic card. FuzeX card has an e-paper display and buttons on the card, which will enable you to choose the cryptocurrency you want to use for each payment without turning on the mobile application in your phone like you have to do with other cards. At the same time FuzeX card provides strengthened security by providing security options; 2FA(2 Factor Authentication - 2 channel authentication) and etc.

FUZEX’S ECOSYSTEM

The FuzeX ecosystem includes:

The FuzeX Card.

The FuzeX Wallet.

The FuzeX Exchange.

The FuzeX card is identical in size and thickness with a standard credit or debit card with the only difference that it has three input / option buttons.
FuzeX Card

Drawing from experience and expertise in having already successfully developed, brought to market, and sold and shipped (magnetic stripe and barcode enabled) 30,000 FuzeX Cards, the smart e-card that enables users to imbed up to 30 credit, debit, or rewards cards in one, the FuzeX Card will in addition offer multiple cryptocurrencies.

The Ultimate Smart All-in-One credit, debit, rewards, and cryptocurrencies e-Card Imbed 30 credit, debit, rewards, and cryptocurrency accounts EMV, NFC, Magnet Stripe, QR Code, and Bar Code for payment options E-paper display to view balances

• Built in buttons on the FuzeX card for authorization, security, confirmation, and payment selection

Once users have connected their various accounts to the FuzeX Ecosystem through the FuzeX Wallet app, users will be able to use their FuzeX card without having to pull out their smartphones.

FuzeX Wallet

This is the hub for the FuzeX card and accounts management, this app allows users to store, spend, receive, and transfer tokens with the real-time exchange rate clearly displayed.

FuzeX Exchange

The FuzeX Exchange is the core mechanism bringing world-wide cryptocurrency to reality. The goal is such that users spend cryptocurrency on their FuzeX card, as they would on a regular card, and merchants receive fiat currency (USD, Euro, Yen, any local currency) as they currently do. In fact, besides, the eye-catching futuristic look of the card, merchants would not know the difference.

This is accomplished by accepting the cryptocurrencies FuzeX card users select to use in the FuzeX Exchange, then release the respective fiat currency to the merchant based on the market exchange rate. They adopt their FuzeX card to issuer standards and pay merchants in fiat currency. In doing so, they eliminate unreasonable overhead and resources required for individual cryptocurrencies to establish contracts with individual vendors for cryptocurrency payment acceptance, thus, bridging the gap between cryptocurrency payments and fiat payments.

FuzeX Blockchain:

The FuzeX Blockchain enables real time exchange and functions as our backend support for our FuzeX Ecosystem.

Armed with the technical know-how of engineers, blockchain specialists, programmers along with experienced marketing and business developers, the FuzeX’s team is dedicated to bringing future technology and solutions today. Apart from the usual magnetic strip and chip, this card also includes a small low energy screen, three buttons for some controls and a battery, Safety is the keyword this days and FuzeX didn’t want to stay behind, so they provide some features like two factor authentication both on the card with a PIN as in your mobile with an App password. There is also an option to connect your card directly to your phone thru Bluetooth and the card will only work if this connection is available. As said before you get a small display screen on your card, where you can see your digital resources and balance.

FuzeX card will also serve for receiving payments! The E-Parer display screen can also be used to display QR codes for your configurated cryptocurrency wallets. Android and iOS applications will also be available in order to use your smartphone as a complement to the FuzeX card. You can monitor transactions, top up the security levels and will also be available some discounts/bonus to the users.

BENEFITS OF THE FUZEX CARD